Business

US payrolls, OPEC and US-China trade in focus


European stocks are set to open higher Friday morning as investors await employment data out of the U.S. and monitor trade developments between Beijing and Washington.The FTSE 100 is seen up by 19 points at 7,156; the CAC 40 is expected to start higher by 24 points and the DAX 30 is set to open higher by 64 points at 13,118; according to IG.President Donald Trump said Thursday that trade talks with China were “moving right along,” according to Reuters. However, earlier this week, the U.S. president said that it might be better to wait until after the presidential election in November of next year to finish a trade deal with Beijing. Meanwhile, spokespersons for the Chinese government have avoided commenting on the prospects of a trade deal.Meanwhile, oil prices rose Thursday after OPEC members agreed in principle to another cut to output during the first quarter of 2020. OPEC members are starting their second day of talks on Friday.On the data front, there will be French trade balance numbers due at 7:40 a.m. London time; Italian retail sales due at 9 a.m. London time; and payroll figures due in the U.S. at 1:30 p.m. London time.In the U.K., the leaders of the Conservative and Labour parties are set to have their final TV debate Friday ahead of the December 12 election. In France, a general strike is carrying on to a second day as public sector workers protest against changes to the pension system.

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